Fortified Wine Market Size was valued at USD 13.2 billion in 2022. The Fortified Wine industry is projected to grow from USD 13.50 Billion in 2023 to USD 16.19 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.30% during the forecast period (2023 - 2032). High alcohol consumption and advancements in flavor and manufacture are the key market drivers enhancing the fortified wine market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The fortified wine market is growing due to consumers' rising wine preference and acceptance of alcohol, especially in developing nations. The development of distribution networks and the growth of internet shopping help with this. Additional factors contributing to the market's expansion include rising disposable incomes, living standards, rising alcoholic beverage consumption, and expanding food and beverage industries. It is projected that major companies' growing efforts in product marketing and promotion to raise customer awareness will have a significant influence on industry growth. Many nations must recognize or respect fortified wines; their taste is also considered inferior and unsatisfactory. As a result, the growing fortified wine educational marketing would contribute to expanding the sector ly. Thus, this factor is driving the fortified wine market CAGR.
It is also projected that manufacturing and flavor innovation improvements will accelerate market development in the upcoming years. The growing popularity of alcoholic beverages for various special occasions is helping the company succeed. Throughout the forecast period, consumer demand—which is interpreted as social recognition—will be the primary driver of sector growth. Emerging market firms are making R&D investments, using cutting-edge production processes, and providing customers with distinctive goods. Baia's Wine is a start-up with a big environmental objective in the Georgian town of Obcha. The business focuses on traditional winemaking techniques. Grapes from the area are produced on a small farm of five acres. They are then allowed to ferment underground in clay containers (without additives). Completely of the finished wines, which are completely organic and biodynamic, are offered in exclusive restaurants in the US.
Moreover, Wine is an essential component of European culture, expanding across national borders and into Asian nations' territories. In these areas, there is an increase in the number of young people who consume Wine sometimes and as part of their diet. Thus, this aspect is anticipated to accelerate Fortified Wine market revenue.
Based on type, the Fortified Wine market segmentation includes Port, Sherry, Vermouth, and Others. The vermouth segment dominated the market, accounting for 35% of fortified wine market revenue, and it is anticipated to grow between 2022 and 2028 at a CAGR of 12.4%. Market expansion is anticipated to be fueled by the growing usage of vermouth wine as an antiseptic and medication to treat colds and viral illnesses. The Fortified Wine market is anticipated to expand during the forecast period because of the increased demand for dessert wine from European nations, including the U.K., Germany, France, and Italy. Vermouth is a base that contains a lot of alcohol and several botanicals. All around the world, aperitifs consist of these types of fortified wines. Customers have been moving away from traditional alcoholic drinks like gin and brandy to favor cocktails and other kinds of mixed drinks in recent years. These beverages are widely ordered at pubs and motels.
Based on the distribution channel, the Fortified Wine market segment includes Store-Based and Non-Store-Based. The store-based category generated the most income. The growing number of liquor outlets worldwide is driving the market. Numerous manufacturers are distributing their goods offline, accelerating the segment's growth. Additionally, convenient access to various items through retailers is anticipated to fuel the segment's expansion. As a result of better distribution channel networks worldwide, liquor shops are anticipated to continue to dominate during the projection period.
Figure 1: Fortified Wine Market, by Distribution Channel, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Europe's Fortified Wine market accounted for USD 6.04 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The market in this area is anticipated to be driven by the increased consumption of Wine in nations like Germany, France, Italy, Spain, and Portugal. Additionally, the market is expected to rise throughout the anticipated period due to the rising demand for flavored Wine. Further, the German Fortified Wine market held the largest market share, and the UK Fortified Wine market was the fastest-growing market in the European Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: FORTIFIED WINE MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The fortified wine market in the Asia Pacific is predicted to develop at the quickest rate, with a CAGR of 13.1% from 2022 to 2028. The large alcoholic product consumer bases in China, India, and Japan will drive the demand in the area. The Region is expected to increase due to people's growing disposable income and growing knowledge of the health advantages of drinking fortified Wine. Moreover, China’s Fortified Wine market held the largest market share, and the Indian Fortified Wine market was the fastest-growing market in the Asia-Pacific region.
The North America Fortified Wine market is the second-largest market during the forecast period. Since they provide customers with more distinctive alternatives and choices, fortified wines are among the alcoholic beverage kinds that are expanding quickly on the American market. Fortified wines have increased in popularity across the nation as a result of the introduction of single-spirit bars. The love of vintage fortified wines like sherry and port is especially noticeable in these pubs. Businesses have started aggressive branding initiatives and social media advertising to increase brand recognition.
Leading industry companies are making significant R&D investments to broaden their product offerings, which will spur further expansion of the market for Fortified Wine products. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Fortified Wine industry must offer reasonably priced products to grow and thrive in a more cutthroat and competitive environment.
One of the primary business strategies manufacturers employ in the worldwide Fortified Wine industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. The Fortified Wine industry has recently provided some of medicine's most important benefits. Major players in the Fortified Wine market, including Bacardi Limited (UK), McWilliam’s Wines Group Ltd (Australia), Atsby Vermouth (US), Davide Campari-Milano S.p.A (Italy), Symington Family Estates (Portugal), Gancia (Italy), The Wine Group (US), Anchor Brewing Company (US), Imbue (US), Bodegas Lustau (Spain), and others are attempting to increase market demand by investing in research and development operations.
Winery and distributor E & J Gallo Winery is based in Modesto, California. It was established in 1933 by Ernest and Julio Gallo and is the main California wine exporter. The largest family-run winery in the United States is E & J Gallo Winery. The purchase of five wineries and more than 30 wine brands from Constellation Brands Inc. was finished in January 2021 by E&J Gallo Winery. Arbour Mist, Black Box, Clos du Bois, Estancia, Franciscan, Hogue, Manischewitz, Mark West, Ravenswood, Taylor, Vendange, and Wild Horse were the labels bought.
Maison Mirabeau blends innovative winemaking techniques, lively client interactions, and a strong appreciation for the history and culture of Provence. The Rose Vermouth by Maison Mirabeau was introduced in the UK in January 2022. An 'aromatic' aperitif honoring southern French botanicals is called rosé vermouth. The leftover supply of Mirabeau's 2019 Vintage Prét-à -Porter rosé cans created the 17% ABV rendition.
Fortified Wine Industry Developments
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 13.2 billion |
| Market Size 2023 | USD 13.50 billion |
| Market Size 2032 | USD 16.19 billion |
| Compound Annual Growth Rate (CAGR) | 2.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |  Bacardi Limited (UK), McWilliam’s Wines Group Ltd (Australia), Atsby Vermouth (US), Davide Campari-Milano S.p.A (Italy), Symington Family Estates (Portugal), Gancia (Italy), The Wine Group (US), Anchor Brewing Company (US), Imbue (US), Bodegas Lustau (Spain) |
| Key Market Opportunities | Focusing on product variation and promoting products |
| Key Market Dynamics | Increasing Production, Introduction of Innovation Flavors |
Fortified Wine Market Highlights:
Frequently Asked Questions (FAQ) :
The Fortified Wine market size was valued at USD 13.2 Billion in 2022.
The Fortified Wine market is projected to grow at a CAGR of 2.30% during 2023-2032.
North America had the largest share in the Fortified Wine market.
The key players in the Fortified Wine market are Bacardi Limited (UK), McWilliam's Wines Group Ltd (Australia), Atsby Vermouth (US), and Davide Campari-Milano S.p.A (Italy), Symington Family Estates (Portugal), Gancia (Italy), The Wine Group (US), Anchor Brewing Company (US), Imbue (US), and Bodegas Lustau (Spain).
The Vermouth Fortified Wine category dominated the market in 2022.
The store-based channel had the largest share in the Fortified Wine market.
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